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    Hatcher Village issued a 5-year, 8%, $100,000 note to the Bank of Hatcher on January 5, 20X4, with the proceeds recorded in the Capital Projects Fund. Interest and one-tenth of the principal are due semiannually on January 5 and July 5, beginning July 5, 20X4. A debt service fund was established to service this debt through general fund transfers and a small debt service tax.

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    Hatcher Village issued a 5-year, 8%, $100,000 note to the Bank of Hatcher on January 5, 20X4, with the proceeds recorded in the Capital Projects Fund. Interest and one-tenth of the principal are due semiannually on January 5 and July 5, beginning July 5, 20X4. A debt service fund was established to service this debt through general fund transfers and a small debt service tax.

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    6 views1 page

    Solutiondone 2-228

    Uploaded by

    trilocksp Singh
    Hatcher Village issued a 5-year, 8%, $100,000 note to the Bank of Hatcher on January 5, 20X4, with the proceeds recorded in the Capital Projects Fund. Interest and one-tenth of the principal are due semiannually on January 5 and July 5, beginning July 5, 20X4. A debt service fund was established to service this debt through general fund transfers and a small debt service tax.

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    Hatcher Village which operates on the calendar year issued

    a
    Hatcher Village, which operates on the calendar year, issued a 5-year, 8%, $100,000 note to
    the Bank of Hatcher on January 5, 20X4. The proceeds of the note were recorded in a Capital
    Projects Fund. Interest and one-tenth of the principal are due semiannually, on January 5 and
    July 5, beginning July 5, 20X4. A DSF has been established to service this debt; financing will
    come from General Fund transfers and a small debt service tax approved several years ago.
    The net assets of the fund at year end are not restricted or committed.Requireda. Prepare the
    general journal entries (budgetary and actual) needed to record the following transactions and
    events.b. Prepare a balance sheet at December 31, 20X4, and a Statement of Revenues,
    Expenditures, and Changes in Fund Balance for the year then ended for the DSF.View Solution:
    Hatcher Village which operates on the calendar year issued a
    SOLUTION-- http://solutiondone.online/downloads/hatcher-village-which-operates-on-the-
    calendar-year-issued-a/

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